“The economy of Venezuela has collapsed as a result of gross socialist mismanagement. Their currency is essentially worthless. To start over, the next government of Venezuela must re-establish the rule of law, protect private property rights, and create a new currency.”
So writes Richard Rahn, one of America’s most brilliant economists. With socialism now stunningly in fashion in the United States, we need to be better teachers about its dangers.
For example, Rahn has a great way in a classroom setting to convey to students the problem with socialism. He asks how many favor free college or medical care. Almost everyone’s hand goes up.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
1 comment:
Venezuela's currency was "collapsed" by the international bankers who make up the Fed, ECB, BOJ, and the BISas well as the World Bank. These bankers have a syndicate that forbids competition. Period.
It is the only way to keep all of these completely fiat currencies afloat. Why does anyone have faith in these currencies?
The bankers simply print the currency and spend it into circulation enjoying all of the benefits of endless "money". Hence, they inflate the currency, as Ron Paul says. This eventually leads to inflation of asset prices because the value of the currency is seen as weak, or likely to become more weak in the near future.
The richest people on the planet enjoy seeing the Country with the largest supply of oil, in a desperate situation with its currency. The oil becomes very "cheap" for the rest of the world and the Country is plundered. It will go on and on for some time. All the while, the major oil companies (owned by the banking families) reap tremendous profits.
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